Tag Archives: Agents E&O

Unmarried couples living in the same household – a potential E&O issue?

Today, this is quite possibly much more of an exposure than in recent years – couples that have decided to “live together” without getting married. If the homeowners’ insurance was not modified, would there be coverage for the additional person … Continue reading

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1 in 10 homeowners have this exposure – is it properly insured?

The most recent statistics lists 9.4% of households rent a storage unit and this percentage does not include how many of those actually rent more than one unit and short term renters that rent a unit for a month or … Continue reading

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“Stated value” vs “Agreed Value” – aren’t they the same?

No, they are not. Which one is better? Let’s take a look… Here is the traditional definition of “Stated Value”: “In the event of a total loss we will pay the Stated Value or the Actual Cash Value, whichever is … Continue reading

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Is coverage for watercraft sufficient under a HO policy?

Now that it looks like winter is over and we are going right to summer, you might have some clients looking to put their boats in the water for some fun and relaxation. When insuring watercraft, there are typically a … Continue reading

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More School Districts Buying Active Shooter Insurance

As noted in the attached article written by Noor Zainab Hussain and Suzanne Barlyn that appeared on insurancejournal.com on March 21st, recent events have resulted in more schools seeking additional protection. While this article focused on schools securing this coverage, … Continue reading

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In 5 States, 20% or More of Drivers Have No Insurance; Countrywide Average Increases

Every day, we get behind the wheels of our car and venture off to work, vacation, run errands, etc. Personally, there is an expectation that every car I see has at least the minimum limits of liability insurance but as … Continue reading

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How does your E&O policy address “subpoenas”?

One only needs to access the news on virtually a daily basis to hear the reference to a subpoena. It is vital that agencies (especially management) be aware that the word subpoena can find its way into the insurance agency … Continue reading

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Does an E&O claim always involve a BI or PD loss?

First, let’s start out with the definition of a claim as defined in an E&O policy. While the exact verbiage may vary from one E&O carrier to another, the general flavor is the following: “Claim” means a written demand or … Continue reading

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Get it in writing !

It is certainly a frequent occurrence in the insurance world for clients, business or personal, to look to reduce their limits. The reason could involve issues such as cost or possibly the client feels the limits are more than their … Continue reading

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Frequency down; Severity up

Going back to the late 80s (when I first started in an E&O management position), the frequency numbers were off the charts (but not in a good way). Frequency (a measure of the number of E&O claims as a percentage … Continue reading

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